The objectives of a company's system of internal control include which of the following?
A)Providing innovative products.
B)Retaining position as market leader.
C)Adhering to laws and regulations.
D)Ensuring the company's stock price provides a reasonable return to investors.

Question

Quizplus · Accepted Answer

Internal control consists of the actions taken by people at every level of an organization to achieve its objectives relating to operations,reporting,and compliance.Internal controls are actions taken to promote efficient and effective operations,protect assets,enhance accounting information,and adhere to laws and regulations.Ensuring a reasonable return to investors through the stock price,retaining position as a market leader,and providing innovative products are not objectives of a company's system of internal control.

The Objectives of a Company's System of Internal Control Include